This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...

Introduction -- Literature, Underlying Concepts and Research Gaps -- Methodology and Research Questions -- History of the German Industrial Landscape between 1958 and 2018 -- Quantitative Analysis: The 250 Largest Enterprises of 1958 and 2018 -- Long-term Analysis I: The 250 Largest Enterprises...